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News  |  Magnolia Tribune  • 
April 6, 2016

Lottery in exchange for tax cuts? House sends it to Senate

House has fight over tax bill, adds lottery Senate Bill 2858, as passed by the Senate, contained Lt. Gov. Tate Reeves’ proposal to cut nearly $600 million in corporate and individual income taxes over 15 years. But by the time it passed the House on Tuesday, the bill included only the elimination of the lowest…
News  |  Magnolia Tribune  • 
April 6, 2016

MS House passes version of Senate tax cut bill, invites conference

Committee passes income tax proposal The proposal would eliminate the 3 percent tax on the first $5,000 of taxable income. The Department of Revenue has said in the past the maximum amount a taxpayer could recoup by eliminating the 3 percent income tax bracket is $150 annually. “This is the House’s attempt to have a…